BuzzFeed News is shutting down, as parent company cuts 15% of jobs
CEO Jonah Peretti wrote in a memo that "the company can no longer continue to fund BuzzFeed News as a standalone organization."
www.cbsnews.comHere’s a quick update on BuzzFeed:
- BuzzFeed News has undergone significant downsizing and, in several rounds, shut down its standalone News division as part of broader cost-cutting and restructuring at BuzzFeed, Inc. This has included layoffs across multiple teams and a shift to focusing news coverage under HuffPost and BuzzFeed.com rather to maintain the brand’s digital journalism footprint.
- The move to shutter BuzzFeed News was publicly announced by CEO Jonah Peretti in internal memos, noting the need to reduce expenses and concentrate reporting efforts on brands that are more profitable or sustainable, such as HuffPost.
- BuzzFeed’s broader business has faced revenue pressures in recent years, contributing to multiple rounds of layoffs and strategic pivots across divisions beyond News. These dynamics have drawn coverage from major outlets and follow ongoing industry-wide advertising pressures in digital media.
If you’d like, I can pull more details or assemble a brief timeline of the key announcements and their implications for BuzzFeed and its staff, with sources.